CANARY ISLANDS TAX BREAKS FOR LOCAL BUSINESSES ROLLED OVER FOR ANOTHER YEAR.(Brief Article)

From: European Report | Date: January 5, 2006 | Copyright information

The Canary Islands have been authorised to extend an economic and fiscal regime designed to promote economic activity in one of the EU's outermost regions for a further year. The regime corresponds to euro 270 million in state aid. In practical terms for local businesses, the measure permits a tax discount on income derived from the sale of goods produced in the Canaries, as well as a tax reduction for companies on profits generated in their establishments located in the Canary Islands which are assigned to constitute an investment reserve. The amounts assigned to ...

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